Date of Update: 12/16/2020

GAN

Ticker: GAN

Theme: Technology

Country: United States

Sector: Consumer Services

Index: Roundhill Sports Betting & iGaming Index

This is not a recommendation to buy or sell securities.

Company Description:

GAN is a leading developer and supplier of online gaming content and business-to-consumer (“B2C”) gaming software. GAN has developed various proprietary technologies which the company licenses to online and land-based gaming operators, including FanDuel, Churchill Downs, and Penn Interactive.

GAN announced the acquisition of Coolbet in 2020. Coolbet operates a B2C (business to consumer) online sportsbook and casino in Northern Europe, Latin American and Canada.

3 Company Facts:

In 2016, GAN held its initial public offering on the AIM exchange in London. Following growth in the company’s U.S. business, GAN moved its primary listing to the NASDAQ via IPO.
GAN is targeting 4-6% revenue share from its sports betting clients, and 5-7% from its iGaming clients.¹
GAN’s acquisition of Coolbet is expected to close in early 2021. Coolbet grew at 46% per year from 2018 to 2020, leveraging proprietary B2C sportsbook technology.

3 Industry Facts:

The total addressable market for iGaming is expected to surpass sports betting at maturity by 25%.
By the end of 2021, an estimated 50% of U.S. states will have passed sports betting legislation.²
Louisiana, Maryland, and North Dakota all passed sports bettng legislation during the November 2020 elections.

Related Companies: International Game Technology, Scientific Games, GameSys